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Plutus Card- A Highly Rewarding Debit Card | Crypto Afflux

Plutus is the Greek God of Abundance, hence the name, Plutus. It amalgamates fiat currency and cryptocurrency under one intuitive banking app, aka PLUTUS.

How would you keep crypto separate from fiat? Users can attach their own cryptocurrency wallet to the app and interact with it alongside their fiat current account without ever releasing the private keys, to stay loyal to the decentralized culture of crypto.

The app comes with a Plutus Debit Card that can be loaded with both fiats and converted crypto and used at over 60 million merchants, now the reality is we are bypassing the payment, which has huge demand.  Plutus is one of the most secure and profitable accounts accessible, with a 3% coin return guarantee.

And the 3% coin return is in Plutus’ native coin return, PLU. Which can be exchanged for other rewards or traded on the Plutus DEX, with other members.

There is more information on Plutus card: This card basically developing a relation between crypto currency and traditional finance. This platform initiated and operating since year 2015 and it was serving in the limited area of Europe. Some other country where the crypto currency is very popular like united states, Thailand, and many other countries. There is no support for the Plutus card.  Plutus card now actually support to the ETH, not Bitcoin. Plutus card also support own token (PLU), this is one of the reasons for Plutus card multiple benefits to those who invest on their own toke (PlU)

What are the pros of holding a Plutus card?

• Makes an excellent hot storage Wallet for non-custodial cryptocurrencies
• In the benefit sets of Plutus card, 3% reward on purchasing by Plutus card. And, there is a bigger set of benefits for the professional clients.
• The user can get the benefits of cryptocurrencies to get in cards (or change in cards) with in a blink of eye.
• To ensure the highest level of security, Plutus transaction travels from seller to buyer directly.
• Transactions can now be contactless via NFC, online, or in-store
• With a membership, you’re free of trading fees.
• Plutus Card premium and pro cardholders can also get up to 15% cash back at select merchants.

Let’s have a look on the con’s:

• Only works with the cryptocurrencies such as ETH and PLU.
• The product is not available in the United States and is only restricted to the European Union.
• It does not mingle with Bitcoin and doesn’t support those transactions
• 1.75% trading fees without a membership
• Monthly fees are charged as part of the rewards program.
• Rewards in proprietary tokens for cashback
• ATM fees are relatively high.
• Crypto cannot be exchanged to fiat as quickly as it would work the other way round.
• Doesn’t work with the largest cardless payment mechanism- Apple Pay.

The pros look quite attractive; however, the cons are worth considering before you make an informed decision.

The technology behind the Plutus card:

Since you use Meta mask to interface with your Plutus Card account, you can manage Ethereum and any ERC-20 token.

Plutus Card, on the other hand, is not a crypto debit card that can quickly spend your ETH. To begin, you must first sell your ETH or PLU for fiat on Plutus DEX. Which takes a while, as we have previously discussed?

So, your only options for funding are Ethereum and Pluton (PLU) tokens. You can load the fiat currency onto your Visa Card balance after you have it in your account. Plutus Card is a prepaid cryptocurrency debit card that functions similarly to Monolith or Eidoo.

The only issue is that their decentralized exchange has a little volume, so you’re at their discretion. You will not be able to top up your card with Ethereum or Pluton tokens if no traders are willing to buy.

You may, however, fund your account with fiat cash via bank transfer – but doesn’t that defeat the purpose of a crypto debit card?

The idea behind the Plutus card is great and offers some unique functionalities, but with the learning curve involved some users may get discouraged.

But don’t fret too much, Plutus card is coming up with a solution to your concerns. Team Plutus is well aware that this is a huge roadblock to their Ethereum debit card uptake. A Market Maker incentive for Plutus DEX is expected to be announced in November, which could help to enhance the trading volume.

So, to get or not to get?

Plutus Card allows you to do so by being completely decentralized, even when exchanging cryptocurrency for fiat currency. We also like the fact that we can manage our accounts from both the website and the app. However, when securing a crypto-fiat conversion, you must also consider blockchain transaction fees.

Plutus card is a revolution and is paving the way for newer crypto cards. Once it has been able to deal with all the boulders on the way, there is no stopping from here.

Should I invest on the Plutus card?

First, now this card is mostly available in Europe. It has lac of support of Bitcoin, it avoids addressable market size. Bitcoin means a very big market and a great opportunity.  it is only supporting ETH and its own (PLU), but still this card is offering a bundle of benefits which is attractive to may investors and buyers. For the members there are no fees and bunch of benefits. Without any condition 3% cash back is very attractive as reward of this card. Some other cars also give some reward and some offer but so far Plutus card seems quite good. After all this discussion, we can conclude like that, Plutus card is a non-custodial this is one of the factors that cannot be ignored.